Should-Read: Paul Krugman: Trump’s Rosy Scenario

Should-Read: Paul Krugman: Trump’s Rosy Scenario: “The claimed returns to Trumpnomics are close to the highest growth rates we’ve seen under any modern administration…

…Real GDP grew 3.4 percent annually under Reagan; it grew 3.7 percent annually under Clinton (shhh — don’t tell conservatives.) But there are fundamental reasons to believe that such growth is unlikely to happen now… demography..Trump did not, in fact, inherit a mess, both Reagan and Clinton did… both came into office… with unemployment above 7 percent… a substantial amount of slack to be taken up when the economy returned to full employment…. Maybe something awesome will happen: either driverless or flying cars will transform everything, whatever. But you shouldn’t be counting on it.